There has been a substantial gap widening in property prices per square metre between southern England and the rest of Britain over the past 20 years.

This has continued since 2011 with London gains nearly double that of the rest of the country.

Chris Gowland, Mortgages Director, Halifax, said: “House price per square metre can be a useful comparison measure as it helps to adjust for differences in the size and type of properties between locations.

“We have seen the average price per square metre increase by 251 per cent over the past 20 years from £631 in 1996 to £2,216 in 2016, although this national figure does conceal considerable regional differences.

“In particular, there has been a marked widening in the North/South property divide over the past two decades as prices per square metre have risen by 432 per cent over this period in Greater London – more than twice the increase in areas outside of southern England.

“The consistent gap between southern England –led by London – and the rest of the country over the past two decades – is a trend that has embedded itself throughout the last five years.”

The 10 least expensive towns in the UK (average price of homes per square metre of floorspace)